Abbott Goes After Endometriosis - TheStreet

ABBOTT PARK, Ill. (

TheStreet

) --

Abbott Labs

(ABT) - Get Report

and

Neurocrine Biosciences

(NBIX) - Get Report

will jointly develop and commercialize elagolix for the treatment of endometriosis-related pain.

Elagolix is an oral gonadotropin-releasing hormone antagonist, which has recently completed a phase IIb study in endometriosis. In addition to endometriosis, elagolix will be evaluated for the treatment of uterine fibroids, the companies said in a press release Tuesday.

"Extensive preclinical and clinical experience with elagolix suggests this drug could be an important advance for women with endometriosis and uterine fibroids, highly prevalent conditions where there is a need for new treatments," said Dr. John Leonard, Abbott's senior vice president of pharmaceuticals, research and development, in a statement.

Abbott will receive exclusive rights worldwide to develop and commercialize elagolix. It will make an upfront payment of $75 million and will fund all ongoing development of the drug. Neurocrine is eligible to receive additional payments of about $500 million from Abbott for certain milestones.

-- Reported by Joseph Woelfel in New York.

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